Pellicano’s appointed to construct 240 UNI HILL
MAB has appointed Pellicano Group to construct 240 Uni Hill, MAB’s third office building on Plenty Road.
The new building will become the gateway to the commercial section of the University Hill estate in Bundoora. The $18 million, 4350 sqm building can accommodate 35 office suites and includes a conference/boardroom suite for the exclusive use of occupants.
Richard Johnston, General Manager Commercial & Industrial said the building’s 25% commitment gave MAB the confidence to start construction, and provide much needed office space to the market.
“Tenant demand, particularly for small to medium businesses, is strong for accommodation of this type in Bundoora. Population growth in Melbourne’s north is another factor adding to the popularity of 240 Uni Hill.
“We are confident 240 Uni Hill will sell and lease well, just as our first two office buildings at University Hill have. These buildings now enjoy only five percent vacancy rate across the 7,500 sqm of floor space.”
The building will comprise a ground-floor cafe, and as with the entire University Hill estate, high speed broadband fibre optic connection will be provided to each of the office suites. Machinery will be on site in March and completion is scheduled early 2012.